Former estate agent Wendy Machanik has been fined R1.5m after pleading guilty to 90 counts of theft

Former estate agent Wendy Machanik's criminal case was postponed by the Johannesburg Specialised Commercial Crimes Court on Monday, her lawyer said.

PROPERTY doyenne Wendy Machanik, who is broke and living on borrowed money, needed to get a fidelity fund certificate allowing her to find work as an estate agent, her lawyer, Cyril Ziman, said on Friday.

The regulatory powers of the Estate Agency Affairs Board needed to be strengthened so it could govern the industry more effectively, Department of Trade and Industry acting director-general Lionel October said on Friday.

A provisional order to wind up the affairs of Wendy Machanik Properties was granted in the High Court in Johannesburg on Tuesday, Standard Bank said.

High-profile estate agent Wendy Machanik will not oppose Standard Bank's application to liquidate her agency, reports said on Monday.

The problems now being experienced by Wendy Machanik Properties, which is under investigation by the Estate Agency Affairs Board for alleged misuse of trust funds, have strengthened the perception in some people’s minds that residential real estate agencies are unregulated

Property players yesterday expressed sadness at the downfall of property doyenne Wendy Machanik, but welcomed a widespread investigation into malpractice in the industry by the Estate Agency Affairs Board.

Case between Estate Agency Affairs Board and Wendy Machanik postponed to Wednesday.

An application to stop estate agent Wendy Machanik Properties from operating was postponed in the High Court in Johannesburg on Thursday.